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We study the effect of countries' energy abundance on trade and sector activity, conditional on sector's energy intensity, using an unbalanced panel with 14 high-income countries from Europe, America and Asia, 10 broad sectors, and years 1970-1997. We find that (i) countries with large energy...
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plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of … degenerating research programme blossomed under the fallacy that economics is the "physics of society". In this faculty of thought …
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